According to a company news release, the added features to SaveDaily.com’s 401(k) statement generation tool are in line with the Pension Protection Act of 2006 requirement that quarterly participant statements reflect all plan costs, including subsidies.
The company’s revamped statement extraction tool discloses all plan subsidies and fees to participants.
“Vesting has always been an issue for retirement plan sponsors and their administrators,” said James Nickles, chief marketing officer at SaveDaily.com, in the news release. “We have a flexible approach that provides our recordkeeping platform customers with a participant statement program that can post vesting, reflect all subsidized fees and is both cost effective and easy to use.”
For more information go to www.savedaily.com.